Closing the last session of November (29/11), the VN-Index ended at 1,250.46 points, a decrease of over 14 points, or 1.1%, from the previous month. Bank stocks witnessed a slightly slower decline compared to the market. Data from VietstockFinance revealed that the banking sector index fell by 0.55% month-on-month, retreating to 743 points.
Market capitalization shed nearly VND 40 trillion
In November, the market capitalization of the banking group decreased by VND 39,941 billion, reaching VND 2.1 million billion (as of 29/11/2024), equivalent to a 1.9% decline from the end of October.
Source: VietstockFinance
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The decline in the sector’s market capitalization was mainly due to the lackluster performance of the share prices of both state-owned and private banking giants.
As its share price dropped by 7%, Eximbank’s (EIB) market capitalization witnessed the sharpest decline among the banking group, followed by MSB, with their capitalization falling to VND 34,460 billion and VND 29,900 billion, respectively.
A few mid-cap and small-cap stocks swam against the tide, such as NVB (up 2.1 times), VBB (+14%), and SSB (+3%). However, their performance was not enough to boost the sector’s overall capitalization. Notably, NVB‘s surge in capitalization during the month was primarily due to an increase of more than 617.8 million shares in circulation, a consequence of the bank’s successful private placement on November 27, 2024.
Source: VietstockFinance
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Liquidity dries up
November witnessed a decrease in liquidity, with nearly 169 million banking shares changing hands daily, marking a 31% drop from October. Consequently, the value of transactions also decreased by 31%, settling at nearly VND 3,585 billion per day.
Source: VietstockFinance
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Apart from three stocks, VBB (up 3.2 times), LPB (+89%), and VCB (+19%), which experienced significant increases in liquidity, the remaining banking stocks faced a withdrawal of funds.
This month, VPB emerged as the leader in liquidity across the system, with nearly 20 million shares traded daily. While the average matched volume decreased by 37% from the previous month to 16.6 million shares per day, negotiated transactions surged by 77%, surpassing 3 million shares per day.
With a staggering 99% decline in liquidity compared to the previous month, SGB became the stock with the weakest liquidity, recording a meager daily volume of 3,556 shares and a transaction value of less than VND 50 million per day.
 Source: VietstockFinance
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Foreign investors net sell nearly VND 2,000 billion
November marked the fourth consecutive month of net selling of blue-chip stocks by foreign investors. Specifically, foreign investors sold over 86 million banking shares, resulting in a net sell value of nearly VND 2,000 billion.
 Source: VietstockFinance
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The strongest buying force was concentrated in CTG, with a net buying value of VND 570 billion. Conversely, foreign investors net sold the most in HDB, with a net selling value of VND 998 billion.
